What can make a real difference to food prices is determined international action to increase food production in regions that are richly endowed with land and water resources High food inflation has been the source of major concern in India for more than a year. Soaring food prices have been the cause of unease internationally as well. A Food and Agriculture Organisation (FAO) press release of 3 March, 2011 indicates that...
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Half of world’s poorest countries can escape poverty by 2020 – UN
Half the world’s 48 least developed countries (LDCs) can “graduate” out of their impoverished status within 10 years if they benefit from better targeted development aid, duty- and quota-free access for Exports and doubled farm productivity and school enrolment, according to a United Nations report released today. This is considered a bold objective, given that altogether there have been 51 LDCs since the category was created by the UN in 1970,...
More »India's overflowing grain bins may lead to crisis, warns key farm panel by Rishi Shah
A key government panel has warned that the country's overflowing grain bins will lead to a crisis if the government did not come up with a plan to dispose of the stored grain . The Commission for Agricultural Costs and Prices (CACP) painted the grim picture in a presentation to Prime Minister Manmohan Singh last week. It said the Centre, which is the biggest buyer of grain in the country, was sitting...
More »Problem of plenty
With buffer stocks ahead of harvest being twice the norm, limiting wheat procurement in the coming season is a judicious option. It is time for a thorough overhaul of the foodgrains procurement and buffer stocking policy. With the rabi season harvest of grains — mainly wheat, followed by paddy — just days away, a major challenge will be finding appropriate storage space. As of March 1, the Food Corporation of India...
More »Tax returns expose Rs. 600-cr. illegal iron ore transactions by Bageshree S
57 lakh tonnes of ore purchased from unlicensed dealers The Department of Mines and Geology has initiated proceedings to recover Rs. 600 crore from iron ore exporters for buying a staggering 57 lakh tonnes of ore from unlicensed dealers since 2003-04. According to sources in Hospet, the scam came to light when the Department of Mines and Geology tapped the offices of the Commercial Taxes Department and verified records. It was found...
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